Noted investor Paulson joins Valeant board; shares ahead 4% premarket

|About: Valeant Pharmaceutical... (VRX)|By:, SA News Editor

Valeant Pharmaceuticals (NYSE:VRX) elected hedge fund investor John Paulson to its board of directors effective June 14, expanding membership to 11, 10 of whom are independent.

Mr. Paulson became famous based on his wildly successful trade shorting subprime mortgages about ten years ago. He was the subject of Michael Lewis' popular book "The Big Short," published in 2010.

Shares are up 4% premarket on modest volume.